300 Million XRP Released from Lock-Up

IconCryptoNewsTerminal Staff01 Aug, 2024

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300 Million XRP Released from Lock-Up

According to Whale Alert data on Thursday, approximately 300 million XRP tokens (worth around $120 million) have been released from lock-up by an unknown address. It is uncertain who owns these funds or for what purpose they will be used. XRP, the native token of the Ripple network, has been embroiled in a legal battle with the U.S. Securities and Exchange Commission (SEC) since late 2020. The SEC alleges that Ripple sold XRP as an unregistered security, but Ripple denies these accusations and insists XRP is a decentralized digital currency.